Top 6 Government Loan Schemes for Small Businesses in India
Did you know that Micro, Small, and Medium Enterprises (MSMEs) in India employ over 15.5 crore people as of 2023, contributing around 30% to the country’s GDP? MSMEs form the backbone of India’s economy, driving industrial output and providing employment to millions. However, securing the right funding is often challenging for small business owners. The good news is that the government has rolled out several government loan schemes for small businesses to help entrepreneurs secure the funding they need to expand their ventures.
In this blog, we’ll explore key government loan schemes for small businesses in India, their eligibility criteria, and practical steps to help entrepreneurs apply and succeed in securing funding.